Liberty emphasized to investors that it had no plans to quickly invest in building new hydraulic fracturing fleets and instead would focus on upgrading its current equipment.
Liz Hampton, Reuters
U.S. hydraulic fracturing firm Liberty Oilfield Services on April 21 warned that demand for fracking services will outpace availability, adding that it has no plans to build new frac fleets.
The second-largest fracking services company said pricing is rising, in part due to inflation, and that it still anticipates hitting mid-cycle returns this year. Access to frac sand and labor remain an issue, it said.
Shares were up almost 15% in early trading to $20.05.